Callan Family Office LLC Grows Position in Ross Stores, Inc. $ROST

Key Points

• Callan Family Office LLC increased its stake in Ross Stores by 53.2%, owning 54,984 shares valued at $7,015,000 as of the recent SEC filing.
• Ross Stores reported a quarterly earnings per share of $1.56, surpassing analyst expectations, with revenue reaching $5.53 billion for the period.
• Analysts have lifted their price targets on Ross Stores, with a consensus average target of $160.67, reflecting a "Moderate Buy" rating from thirteen research analysts.

Callan Family Office LLC boosted its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 53.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 54,984 shares of the apparel retailer's stock after purchasing an additional 19,086 shares during the period. Callan Family Office LLC's holdings in Ross Stores were worth $7,015,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Park Avenue Securities LLC lifted its stake in Ross Stores by 18.5% during the 1st quarter. Park Avenue Securities LLC now owns 9,893 shares of the apparel retailer's stock valued at $1,264,000 after acquiring an additional 1,544 shares during the period. GAMMA Investing LLC lifted its stake in Ross Stores by 29.4% during the 1st quarter. GAMMA Investing LLC now owns 6,308 shares of the apparel retailer's stock valued at $806,000 after acquiring an additional 1,433 shares during the period. Handelsbanken Fonder AB lifted its stake in Ross Stores by 0.5% during the 1st quarter. Handelsbanken Fonder AB now owns 167,974 shares of the apparel retailer's stock valued at $21,465,000 after acquiring an additional 753 shares during the period. Assenagon Asset Management S.A. lifted its stake in Ross Stores by 43.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 64,696 shares of the apparel retailer's stock valued at $8,268,000 after acquiring an additional 19,623 shares during the period. Finally, CX Institutional lifted its stake in Ross Stores by 7.5% during the 1st quarter. CX Institutional now owns 2,772 shares of the apparel retailer's stock valued at $354,000 after acquiring an additional 194 shares during the period. Hedge funds and other institutional investors own 86.86% of the company's stock.

Ross Stores Stock Performance

ROST opened at $149.98 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 0.98. The firm has a fifty day moving average price of $148.36 and a 200 day moving average price of $140.66. Ross Stores, Inc. has a 1 year low of $122.36 and a 1 year high of $158.69. The stock has a market cap of $48.78 billion, a P/E ratio of 23.81, a P/E/G ratio of 2.92 and a beta of 1.18.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its quarterly earnings data on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.02. The company had revenue of $5.53 billion during the quarter, compared to analysts' expectations of $5.54 billion. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.59 earnings per share. Equities research analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given a dividend of $0.405 per share. The ex-dividend date was Tuesday, September 9th. This represents a $1.62 dividend on an annualized basis and a yield of 1.1%. Ross Stores's dividend payout ratio is currently 25.71%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Jefferies Financial Group upgraded shares of Ross Stores from a "hold" rating to a "buy" rating and lifted their price objective for the company from $135.00 to $150.00 in a research note on Wednesday, July 2nd. Cowen restated a "buy" rating on shares of Ross Stores in a research note on Friday, August 22nd. Barclays lifted their price objective on shares of Ross Stores from $156.00 to $164.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Telsey Advisory Group restated a "market perform" rating and set a $160.00 price objective (up from $150.00) on shares of Ross Stores in a research note on Monday, August 18th. Finally, Morgan Stanley lifted their price objective on shares of Ross Stores from $128.00 to $130.00 and gave the company an "equal weight" rating in a research note on Friday, August 22nd. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $160.67.

Insiders Place Their Bets

In other Ross Stores news, CMO Karen Sykes sold 4,000 shares of the company's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $151.76, for a total transaction of $607,040.00. Following the completion of the transaction, the chief marketing officer directly owned 106,413 shares in the company, valued at approximately $16,149,236.88. This represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Karen Fleming sold 2,932 shares of the company's stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $149.09, for a total transaction of $437,131.88. Following the transaction, the chief marketing officer owned 88,335 shares of the company's stock, valued at $13,169,865.15. This represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,283 shares of company stock worth $6,789,418. Company insiders own 2.20% of the company's stock.

About Ross Stores

Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.

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